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plunging into the level of debt and deficit spending that has been taking place here over the past several years. eventually we're going to reach that tipping point. when we reach that tip point, investors and consumer lose conference. and when that happens, interest rates right. and when interest rates rise, it impacts our economy in a very significantly negative way. all we have to do is look across the atlantic at europe and what's happening there to get a glimpse of the crisis that can come from not dealing with ever-increasing debt and not taking steps necessary over a period of time to put your country on a fiscal path to health. now, i think most of us know here that we have to make some tough choices and it's going to require political will in order for us to address this. we've been avoiding this for years. expoo we're going to face a debt-induced catastrophe if we don't address it and drean addrt soon. so when you're faced with this kind of fiscal mess, what do you do? well, what families and pise businesses all across america have had to do when they face these types of situatio
. this is something that every family in america is asking us to focus on. number two, we need to tackle our deficit and debt fairly and responsibly. as democrats, we understand that is a responsibility that we bear today and we do it in this budget. and number three, we need to keep the promises we made as a nation to our seniors and our families and our communities. many who have struggled so much over the last few years and are counting on us to be there for them again now. mr. president, we'll be hearing a lot more about all these principles today and we're going to discuss the stark contrast between the budget that is expected to move in the house of representatives today and the plan and path forward that we have put forward here in the senate as democrats. mr. president, i will yield to senator sessions for his opening remarks, and we will continue this debate throughout the day. mr. sessions: mr. president? the presiding officer: the senator from alabama. mr. sessions: i thank the chair and would express my appreciation to senator murray for her leadership and who are courtesy and her skill
nation that does not -- is not riddled with debt and deficit, but also a nation that continues to be the economic leader in the world. and i believe our plan makes -- protects those investments in those key components of growth. and i hope over the coming hours that we will go through this debate and -- and i know we'll have a spirited period of a lot of amendments. this -- this budget i believe will pass and it will have to then find agreement with our colleagues in the house. and i just want to again commend both the chair and, for that matter, the ranking member. at the end of the day, we have to find common agreement to get this done. this issue that hovers all over of our other debates has become a metaphor as to whether our institutions can if you please in the 2 1*9 century. so just as the chair and rank member found agreement through a markup process where both sides were heard and amendments were offered and debated in a fair and open process, i want to both thank the chair and rank member for their commitment. they have different idead about how we get there, but at t
dollars loss, so to the degree that revenues come in lower than expected, the deficit would be larger, so there is some sensitivity here. >> and that's 134 million over five years? >> over five years, that's right. >> got it, thanks. >> so, going back to just in term of what compromises that 578 million dollars of revenue growth, the largest portion of that being our property tax which is our largest overall local revenue source, though business taxes and our hotel and sales taxes are as growing over that time period. this slide highlights for you wla the projected growth rates are in the plan, so you can see, you know, stronger growth rates in the early first two years and more moderate projections in the subsequent years. on the expenditure side, our -- the city's expenditures are projected to increase by 1.1 billion dollars over the five year period, that's about 25% growth, and the largest share of that is our salary and fringe benefit costs which are growing we're projecting 460 million dollars, there are a number of citywide cost increase that is are assumed in this plan, things lik
a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan to grow our economy or create jobs. no plan to ever balance the budget. take more. trillions of dollars more to spend more in washington. that's what got us in this mess in the first place. so what can be done? the good news is that we now have a vehicle for regular order. the democrats derailed the budget process each of the last few years and stopped governing when they stopped budgeting. at least we now have a budget process that's moving. we brought them back in the game this spring. that's a good thing. so what's going to happen in the weeks ahead? well, we will make the case for our priorities. whet
to get anything going and that's the way to deal with the deficits, of course. and there were some measures there. no national insurance payments for employees for the first few thousand pounds reducing corporation tax earlier to 20%. infrastructure spending, could it be more? businesses would always want more. but there was acknowledgement he tried while keeping the next fiscally neutral. on the whole, businesses say, not bad, could have done more. i think that will be the summation for them. the key factor, of course, is if you're not going to do more to stimulate your own growth, what happens to the eurozone becomes even more important. and i did speak to the chancellor, george osborne, just a short while ago and i asked him how worried is he about what's going on in cypress? this is what he had to say. >> it is a worrying situation in cypress and i think there's been some sole rans in international markets and elsewhere that they've got to sort these problems out. but obviously, we now need a solution. if i would have concerns if these depositors, less than a hundred thousand e
reduce unemployment to nearly five -- two near 5% and three years. it would reduce the deficit by $4.4 trillion over 10 years. and it would strengthen medicare and medicaid amah and you'd be asking the wealthy to pay their fair share. -- medicare and medicaid and you would be asking the wealthy to pay their fair share. guest: the institute of policy analysis estimated that you are spending money on infrastructure. we have a to point to dollar trillion infrastructure deficit, according to the transportation -- american society of civil engineers. building roads, highways, bridges, etc. you put people to work building schools and other necessary things. you give money to the states. the states have laid off 700,000 cops, firefighters, and teachers. you give money to states for couple years to rehire them. those kinds of things add up. by doing all this, you stimulate the economy. that means the private sector generates more jobs. it comes to about 7 million altogether. host: what do you consider fair share when it comes to wealthy taxpayers? guest: we propose two different things. numb
to reduce the deficit. unfortunately, rather than seriously considering the credible path that we have presented in our budget plan, some republicans have decided to play some games with the numbers, and they just are not telling the truth. instead of subtracting the sequestration replacement portion in the investment package from the $975 billion in total revenue, they're trying to say that you should somehow add them all together. they are taking one side of the ledger, combining it with the other side of the ledger and coming to some conclusion that makes absolutely no sense to us. mr. president, this would be like handing over $2 to buy a cup of coffee and having someone say, well the price was actually $2 plus the value of that coffee. it doesn't make any sense. and, by the way, you don't have to take my word for it. fact checkers and reporters have called this claim false and a step too far. and "the washington post" fact correcter even gave it two pinocchios. mr. president, i ask unanimous consent to insert in the record a story from "the washington post" on this inaccurate clai
and then on the deficit this year, the democrat deficit would be 164 billion dollars bigger than the republican deficit. and next year, 308 billion dollars, just to give you a sense of it, by 2015 the republican deficit would be down to 125 billion and the democrat deficit 433 billion. there's a big indication of the difference between the parties when you look at the budgets of the budget blueprints of the republicans in the house and the democrats in senate and republicans want to restrain spending and democrats want to continue to blow up the budget and eventually, over the decade add 1 trillion dollars of new taxes. >> sean: yeah, so 1 trillionew a trillion dollars, this is like they know no other way, all right? that's point one, but yet, they still will give us almost trillion dollar deficits as far as the eye can see throughout the entire ten-year period. here is the big issue though, i want to see obamacare repealed, but it's not going to happen through paul ryan's budget plan. the republicans, if they want that to happen, to get ryan's plan through, they're going to have to during one of the c
here. the figures for february and that showed a $8.1 billion deficit and that's the eighth straight month of deficit. that's the trade balance figures for february for japan. let's have a look at the opening levels for the nikkei and the topix. let me just remind viewers that before we broke off the nikkei went through a pretty volatile twodays due to uncertainties over the bailout plan and it gained 247 points on tuesday as the yen resumed its weakening friend against the euro and the dollar. it's up again today. we pretty much wiped out the losses from monday. we're in the positive so far. >> what can you tell us about currency levels? where do we stand this morning? >> the yen resumes its weakening trend and the euro a big focus are now at the lower 4 y levels. 124.14 to 17. this banking issue overshadows. it's rebounded. traders really taking a bet it will have less of an impact than originally thought earlier this week. i'm talking about monday. investors will be looking to see european pmi data. let's bring up the dollar/yen. that's trading right at the upper 95 yen levels. fe
at that committee however that we run at that deficit but the overall policy decision was this was a good thing to support and move forward and hence here we are. >> i would augment a couple of things. we felt that the gap in funding for us it's a relatively small investment to add an important recreation amenity. we lack skate board parks in the city and within our purview and something for us to absorb and the way that the funding mechanism is going to work with dpw funding the maintenance and in our accounts and i was informed there is an escalator that helps and interest on the lump sum and help close the gape a bit. i don't know if all the way but it will help so it turns out that the last amendment to change the way the funding is actually structured may result in more interest funds for us to help close the maintenance gap. >> commissioner bonilla. >> yes. i noticed that in this mou it does memorize the $66,000 operating expenses, but it doesn't memorialize the monies that rec and park will be responsible for. shouldn't that happen as part of this mou? >> for give me commissioner i d
of the simpson-bowles plan. the plan reduced the deficit through the balance approach that clued additional targets cuts and also revenue from closing a lot of the special interest tax breaks for very wealthy people, tax breaks which mitt romney and paul ryan talked been on the campaign trail. >> neil: they were without raising the overall rate. now we have the rates raised. so republicans talk of a need for a trigger. they might go along with this tax break stuff and all their closing the loopholes, that they did agree it's sort of wasting time and money and the tax code, but you guys have then got to, as part of the trigger, agree simultaneously to these cuts you talked about. what do you make of that? >> well, first of all, the difference is republicans have never said they're willing to close some of those tax loopholes for the purpose of reducing the deficit. which is what the bipartisan -- >> neil: i got a couple on you. i suspect no angel in the ranks of either party. but they did say that they would be open to closing these loopholes but without this being the only negotiating point
for that, because we had the great recession, and we needed to engage in some deficit spending to offset that demand contraction. historically the debt goes up in periods like this. in world war ii, it breached 100%, then a few years later it was 50%. the debt is expected to start coming down within a few years. over the long term, there are real pressures on the debt through health care costs. that's what i would tell mr. penny. >> excellent. that's very helpful. josh, the president last week was secured on the right for suggesting there was no dead crisis in american. later in the week this is what speaker boehner and paul ryan had to say. take a listen. >> is he right, that we don't have an immediate crisis. >> we do not have an immediate debt crisis. >> we do not have a debt crisis right now, but we see it's coming. it's irrefutably happening. >> what are they doing by repeatedly fanning into flame the notion of a debt crisis, when they themselves when asked directly say exactly what jared said. in the immediate short term, it is not a pressing issue. >> it's because it's instrumenta
and expenditures and then monitors our overall progress on the city's structural deficit. as you'll also remember, the five-year plan, it requires that we both present what that gap is and then propose financial strategies about how to eliminate the gap between revenues and expenditures. so, what i thought i would do is kind of walk through some high level assumption and then talk about in more detail about what's going on in the five-year financial outlook, so the plan itself assumes the budget that was adopted last year for 13-14 as the base case in most scenarios, so that means things like our capital funding is assumed at the level that it was adopted in the budget last year, inflation on materials and supplies on grants to non-profits that's assumed at the level it was adopted last year, the one major difference that i would highlight for you now and i'll mention it again later is how we're treating the prop h public education enrichment fund baseline in which we defer to contribution last year in the second year and our projection today assumes that that's fully funded. >> ms. howard, just
as this president's-- as this president tells us we don't have a deficit problem. >> greta: i don't get in. the pr, look, he's not going to sit down every night and do the budget himself, he outsources to his staff, but you've got the house and the senate had the same hurdles he did, whether it's a continuing resolution or sequestration, the same problems and they've now gotten their two budgets in and you think that he would crack the whip on his own staff and say, get this in so we can move forward. >> i have to tell you, greta, when i was the mayor of new york i did my budget. i spent hours, stayed up until, 3, 4, 5 in the morning at times going through the budget because i believed that i understand it as the chief executive. i had to understand the budget because the only way you really can make an impact on government is by understanding the budget. and for this president to be in office for five years, not be able to get a budget done on time, really tells us that he has no interest in our economy, he has no real interest in straightening out our budget problems. i don't know what his prior
what that means. neil: i think it's a deficit. >> no, it's 17 times our debt. pretty close there. neil: i was talking to charlie rangel earlier on this issue, and he more or less tried to make fun of the notion of imujts themselves, whether they are on time or late, regardless, you know, no one really sticks to them, and actually in truth, he's right about that, but he duds make a mockery of the process, not only when you propose budgets late, and other presidents who have done this before. he's developed into an art form, obviously, but when you don't stick to them in the thing, and you blow them away by spending far more than is allocated in them. what do you think of this in >> well, i think submitting a budget's important besides the fact it's required by law because it's the blueprint for where we go forward fiscally, and you have to abide by the law. what congress is doing between the ryan budget and murray budget, we're going nowhere fast, and essentially, the question is is president obama going to put forth a budget, stick his neck out, modernize entitlements? guess what, if n
hours, it has not done in san jose. right now 1.63 for 2012. that's a deficit of 6.72. one of the drier calendar years. we have blue sky here not in san jose. a low cloud deck there. right off to the north here what you're going to find is there's your blue sky. a few breaks of sunshine here across the bay including fremont and then up to emoryville. what you'll notice is some of that drizzle i noted that is showing up here in san jose. also a gorgeous shot. what we have happening is a subtropical moisture and the cold front over the past 24 hours is now pushing to the south. you can see all that cloud cover moving into southern california. that's shaping up just in time for your weekend. so we're going to see more of a milder trend building in as we head throughout friday, saturday, and sunday's forecast. slightly drying winds as well. that we do think will produce some 70s in the forecast. we're not going to see that at the coastline though. 50s and 60s. little bit breezy for thursday. friday and saturday, 70s are expected to return. what we are noting here for tonight is by 11:00, a
overcame a 27-point deficit. and heat streaked by the cavs. in that process, notching the 24th straight win in their belt. >>> in the first-round of the ncaa tournament number 2, 16 seed and james madison university won to advance to the second round which starts tomorrow with 16 games. they will play top seed indiana friday. good luck in that. >>> then to number 13 seeds lasalle defeated boise state. they advance to the second round to face kansas state. >>> president obama, by the way, he filled out his ncaa brackets. and he predicted that number one louisville will make it to final four. he also chose ohio state, florida and indiana to win it all. >>> nfl chicago bears could not agree on a new contract for eight time pro bowl linebacker brian urlacher so he becomes a free agent after 13 years. and ed reed left the super bowl champ baltimore ravens after 11 seasons and signed with the houston texans. >>> tiger woods says he and lindsay vonn went public about their relationship so the paparazzi couldn't make as much money from pictures they took of the couple. >> it's real simple. we're ha
meetings. he was asked about concerns that it may be scene as fiscal deficits. he denied that saying buying government bonds from the market is one of the central bank's monetary measures. >>> japanese business leaders are hoping he will take bold measures to reenergize the sluggish economy. >> translator: our business has been so tough over the past 20 years due to prolonged deflation. consumers are reluctant to spend money when prices keep falling from one day to the next. i hope the boj will work closely with the government and take bold monetary easing steps to bring deflation to an end as soon as possible. >> translator: we have high expectations for the boj under kurodo's leadership. kurodo and his deputies have abundant experience both at home and abroad. they will make a great team to guide the economy. >>> we spoke to bill devinny. >> kuroda was actually quite clear that he wants to expand asset purchases, he wants to buy longer dated bonds and also to increase the scale of asset purchases. and we think he is going to be quite aggressive in pursuing these additional measures. we ex
with the funding amounts that are requested we run into a deficit at the 2nd street project. if we work on the other funding sources for masonic, for example, the revenue bonds and cost reduction at a helps us get a little bit more towards the second street project but we also have to address the segment ability and the projects to be able to provide to the man sell project. that's what we are working on now. >> i want to reiterate a promise you made a few months ago that we intend to come to see you to fund all of those projects. the response has been very cooperative. the prop k update will help us a lot and a huge help is the masonic, the shear size of it is so big. the mta is aware of the size of it and hope we can find more funding. i hope we can spread the love around to receive the needed equity. >> great. i will hold you to that >> i did have a question. my understanding is that there is 2 million in transit planning funds that the mtc as granted to our planning department and wondering if we can request handout you the planning department is going to prioritize that? >> sure. t
the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it was an economic calamity that was totally avoidable if the people in power made different, smarter choices. especially the federal reserve. ben bernanke does not want history to repeat itself. he's not going down the path of what the fed did in 1937. he's not stupid. even though that's exactly the path unfortunately that the president and congress are taking. bernanke recognizes that obama and congress have repeated the errors of 1937 down to a tee. he can't let the fed's part in the drama be repeated. otherwise he'd go down as the fed chief who never got the economy going and put it back in a recession, a
already huge amounts of money and deficit reduction. it's just not appropriate, mr. president. that our military can't train and do the maintenance necessary. these men and women our marines were training there in hawthorne and with the sequester it's going to cut the stuff back. >> can i tell you marine corps officials this afternoon are taking a strong exception to what harry reid implied, saying that this exercise, for example, was planned well in advance had nothing to do with the bucket -- budget cuts, there were no corners cut. >> bill: this is what i object to. reid is exploiting the death of these marines who were just out in nevada because that terrain is similar to afghanistan. they had a mortar. the mortar malfunctioned and blew up. it had nothing to do with the sequester. he exploits this for political gain. that's just awful, is it not. >> let me say one thing. harry has a unique ability to use wrong words at the wrong time. however in his defense he he never ever associated the two of those together. >> bill: wait, we just heard him do that. he said the sequester and this
there is an urge encrisis. on the other hand, we have a washington right now, obsessed with cutting the deficit. a very long-term problem that has been sold and masqueraded as a short term crisis. your book is called present shock. have the hawks used present shock politics? >> in some ways. without time, without real linear time, it is hard to have a narrative. they keep complaining obama cannot really tell a story that's compelled by the american people. we don't respond to stories. where are you taking us? what is the eye on the prize? what ends will justify the means. so we end up in this crisis management. always responding to each thing. being a deficit hawk, we're going broke. we won't be able to pay our bills. that's pretty immediate. what we have to do is, i mean, long term, look toward a more steady state sustainable economic policy rather than always looking toward the next crisis just to get us through moment. >> is that really true though that we don't think in stories anymore? to me stories and story telling are so central to human beings and the way we think about the world, our
-double as miami overcame a 27 point deficit and the heat squeaked by the cavs 98-95 and in the process upped their 24th straight win. >>> in the first round of the ncaa tournament, two number 16 seeds and james madison university beat liu brooklyn 68-55 to advance to the second round which starts tomorrow with 16 games. they'll play top seed indiana friday. >>> and then two number 13 seeds, will he sal debeated boise state. they advance to face kansas state. >>> president obama filled out his ncaa brackets. he predicted number one seed louisville will make it to the final fourment he also chose ohio state, florida gators and indiana, his choice to win it all, indiana. >>> indiana and the chicago bears could not agree on the new contract for brian urlacher so he becomes a free agent after 13 years and nine time pro bowl safety ed reed left the baltimore ravens after 11 seasons and signed with the houston texans. >>> golfer tiger woods says he and lindsey vaughn went public with their relationship so that paparazzi couldn't make as much money from any pictures they took of the couple. >> well,
, erasing a 27-point third quarter deficit to beat lebron's old team, cleveland cavaliers, 98-95. james had a triple-double, 28 points, 12 rebounds, 10 assists. the heat now within nine games of the nba record for consecutive wins set by the 1971-72 los angeles lakers who won 33 in a row. what are the chances, berman, that it happens? >> you can't keep falling behind by 27 points and expect to win nine games more in a row. >> they do that on purpose is my theory. but your theory is that -- >> they've gotten so used to winning any way they want, they sort of -- >> no big deal? >> -- they play casually the first three quarters and then they turn it on. i suspect it may catch up with them. >> i suspect you're right. >> thanks, zoraida. >>> we're awaiting a live news conference with president obama and palestinian president mahmoud abbas. we'll bring it to you right when it happens. this as there are no reports this morning that abbas may be ready to make a key concession. say path to a two-state exclusion on the horizon? >>> what's going on with jay leno? rumors that say pretty soon before he
of the federal deficit should be the top priority for congress this year. 52% say immigration reform is a top issue. 42% say new gun control policies are the most important issues. and 33% say efforts to combat climate change should be the priority. >> 7:08. we know what sal's priority is keeping a close eye on traffic. >> okay. right now we are looking at a community much better than it was yesterday. we have slow downs obviously. let's take a look at the bay bridge. earlier minor crash. didn't last for too long. but the metering lights were turned on and slowed down for a bit. so it's a little worse than it normally is. backed up to the mc arthur maze. 30-35 minute delay. if there are no other problems on the bridge, this will begin to wind out and by 8:00 see an improvement. this morning's commute has been busy on 880 between hayward and fremont. we're talking about the livermore valley as well. westbound 580 slowing coming in over the pass. but no problems into castro valley. let's go to steve. >> thank you. mostly clear. patchy low clouds. they are going north to south. they'll eventuall
deficit and goes before a judge tomorrow. is stupid moves like this that are keeping cities and agencies like the post office drowning in debt. there is more people involved and not a fix the problem. we just need to get the monitor. that's my "2 cents more," and that's it for tonight on "the willis report." thank you for joining us. don't forget said records show. i'll see you next week. ♪ ♪ lou: good evening, everybody. president obama today reacting to rorted, but unsubstantiated claims of the use of chemical weapons threatening the syrian regime led by a dictator. president obama made his declaration during a joint news conference with israel's prime minister. the first day of his first trip to israel as presidents. >> i had made clear at the use of chemical weapons is a game changer. any more horrific gains. i believe that if the regim has lost all credibility and legitimacy. lou: making an effort to assure e israeli people that america has throwback in regards to ending the iranian pursuit of nuclear weapons and that any decision by netanyahu to protect the nation's security is
that are confident. they are at odds about the budget deficit. they believe the federal government should be required to balance the budget. and when asked to describe the national debt 68 percent said it is an immediate problem. 27 percent said it's something that can be handled in the future. only 4 percent said it's not a problem. >> reveal your weight or pay a penalty. cvs announcing all workers on company healthcare must have an annual wellness review and report their weight, body fat, blood pressure and more. if they don't they will be charged $600 more a year. people not only criticizing the penalty but also wondering this about worker's privacy. in a statement cvs said personal health information would remain private. so we want to know would you reveal this information? send us your comments at foxfriendsfirst@foxnews.com. >>> 9 minutes to the top of the hour. you are looking at president obama arriving at ramallah. this as a short time ago a rocket launched into southern israel. we have a live report from ramallah on the other side of the break. 15 of the 9-11 hijackers came from saudi arab
more than 50 elementary schools, trim $400 million budget deficit believed to be the largest ever in one place at one time in the country. the head of the chicago public schools says that the district must consolidate to get students into higher-performing schools. >> if your cup of coffee is not doing the job, now you have a way to get a super pick me up. a company is coming out with a product that contains twice the caffeine you find in a normal cup. the makers say that a blended bean from indonesia, ethiopia, and south america to brew their neck snapping cup of joe. those are their words, and it is selling on amazon for $20 a bag. "good morning america" will have more on "death wish" at 7:00. that is the name of the coffee. >> okay, is your insurance paid up? >> drink this, sign this. >> okay, we will check with meteorologist, mike nicco, and the bay area forecast. >> temperatures will rebound and we will climb if tomorrow and through the weekend we have a lot of spring warmth. it looks like we are going to have a lot pollen out this, also the rain we had yesterday and the suns
it has no choice, its schools are running a deficit of a billion dollars, that's just the schools. so, it plans to close 50. largest single school closure in recent memory anywhere. needless to say, a lot of folks in chicago aren't happy about this, right? >> you know this story, don. you grew up in chicago, you covered school issues. it's a big deal, very divisive story in the sense that there are a lot of people who are worried this is going to hit mostly african-american communities. the city's south side. we haven't seen the list yet. the list is supposed to come out today at 5:30. look, a lot of people are anticipating this list, they think it's going to hit the south side hard. >> they were saying possibly in the beginning of the school year they were saying they were going to close 80 to 100 schools and they may have gotten off easy this time because it's only 50 schools, but this is the single largest school closure in one year ever recorded. >> we're talking about again the third largest public school system in the country. >> you talked about the south side. south and west s
that the obama care would be deficit-neutral and control costs i think has turned out to be a charade. if you look at the longer term projections it looks especially more unlikely today than it did when they were engaged in the budget that allowed it to pass. what i think is interesting on the political side is how republicans are treating the issue right now. there is a debate inside the republican party whether it's wise to continue talking about obamacare. on one hand you have a group that says in effect this is over, this is done, we should tweak it, try to improve it, do what we can. let's not focus op it because it's in the past and discussion of aweer thety. on the other hand people think talk about it all the time because implementation is proving difficult and it will be more difficult as we go along to the republicans' benefit. >> bret: the second group of republicans believe the thing could crater. it could just not work. >> correct. that is a possibility. i think that the comment we just heard, there are thousands of pages of regulation that people haven't read is true. i don't ca
deficits. new jersey governor chris christie called school supers arrogant and greedy,but when new jersey tried to cap super pay, the school school superintendents sided the cap by double dipping, retiring early to pocket the pensions, and then they got rehired elsewhere as school administrators or consultants. in new jersey, one retire 18 years ago, but got rehired 23 times since as a school administrator elsewhere pocketing $1.2 million, and double dips is rampant in ohio too. back to you. gerri: great story. thanks, liz. on to farmers. they are getting paydays for the land. it's part of what some call another golde age for farming. with more on this, host of u.s. farm report. john, thanks for being with us. great to haveou on the show, now, this story surprised me because i thought the drought killed you all, and hear that farmland is on fire, and, in fact, some investment banks out there try to snap up as african as they can, i was surprised by that. what's going on? >> well, it's not quite as drastic as it appears. first off, remember 80% of the farms that are sold are bought by othe
what's called video deficit when they watch the screen passively, they can't really assemble a coherent narrative about what's happening. the way our brains develop, we need some interaction, which a tablet actually supplies because you do something and you get a response for it. it's not a substitute for a loving care giver of some sort in your life, but at least it's responding. >> i do wonder, though, about attention spans. i have two kids, 6 and 10. i'm one of these brooklyn mommies that buys hand made wooden toys from germany andy courages the kids to read books. although when i need them to be quiet, i will hand them the kindle fire. and i do notice that they're a little more -- my son is a little more agitated after playing games on that. is there anything there to worry about really? >> let's start by saying your son's a boy. i'd say based on my experience -- and those who grew occupy without these devices is the same. it's true, all things in moderation, although as part of her expiration of the story, hannah kind of experimented on her own kid and let her youngest play as much
in than in any year in our history, yet we are still going to have a trillion dollar budget deficit. doesn't anyone realize there is a problem here? >> speaker boehner, i understand you met this morning with some of your members on benghazi, there's already been a report done. multiple hearings. are republicans planning further review? are you going to issue subpoenas? >> there were some members who wanted to a conversation to compare notes on what we know and don't know. and frankly there is a lot that we still don't know. so it was a friendly exchange of information and some decisions about a way forward. i any on what happened priorle to september 11, what actually happened on september 11. and then why it was described for weeks after something that it wasn't. when the people were watching this knew it was a terrorist attack. >> the c.r. passed today included some cushion for certain programs like border patrol, to help them get by with the sequester going into effect, but it did not do anything to prevent layoff that is are going to occur at t.s.a., f.a.a., traffic control towers are
unemployed, 42 out of 50 states are facing a budget deficit. and to be honest there is very little leadership coming out of washington. so i think what i tried to do is raise these issues with civility, whether you're republican or democrat, we're all americans. and i think we deserve more. we deserve better. and washington really needs to help us create the kind of leadership and decision making by putting their feet in the shoes of every day americans. that's not what's going on. >> you recently were speaking at the national retail federation and you said that the lack of leadership in washington, i just want to quote you, because i thought it was beautifully said, is sapping the life blood, the soul and the confidence of our country as the world witnessed a lack of leadership in the united states. is that message ever going to get through? are we reaching a point where you say i grew up poor, i became wealthy, i was able to start a company and it's not going to be able to happen to people in the next generation? >> i think you're bringing up a very important question. let's frame it as the
and the work ahead." and david leonhardt, author of "here's the deal: how washington can solve the deficit and spur growth." i am pleased to have them both on the program. what's the headline coming out of bernke's press conrence? >> i think steady as it goes is the main headline. the fed is going to continue to buy these bonds it has been buying at about the same pace. it's going to continue doing it until sees unemployment fall to about 6.5%. i don't think there are any changed today. i think the most interesting part of the news conference was when bernanke wanted to stay on in the job. although he refused to answer the question he said he and president obama had spokeeb about it "a bit." ihink it's intesng to think about the idea he and obama have talked about whether he wants a third term and how inclined obama is to give it to him. >> rose: i would think if obama is talking to him about it it suggests will obama would like for him to continue. >> i think that's a good assumption. i think obama clearly likes bernanke and thinks on the whole bernanke has done a good job. he has made th
deficits and debt. how can you not worry about that. they do seem integrally involved in phobia, a lot of we don't want anybody else coming to this country. >> yeah, yeah, that's -- that's true, chris. it's this idea that they're losing their country. they fear change. they fear -- they're anxious about the change that we see. we see the browning of america. we see, you know, the gay rights movement is preceding at pace. you know, we saw the first female speaker of the house not too long ago. so it's this change that they have a problem dealing with, chris. and let me get to the point about -- >> why would somebody care -- i always wondered about this. why would somebody who is white care about whether the country is white 100 years from now? they're not going to be here. and the people here would be comfortable with it. your nature will change with the country's nature. it does sound like pure racism. if you want the country to be tribally white 100 years from now. i don't know why a black person would care either. why do people speculate the way they think what the country will be li
that cutting the deficit was the most important issue facing the country. why the gap between what voters say that they want and what lawmakers are doing there in washington? >> because the lawmakers who are developing and passing budgets in washington, d.c. are completely out of touch with what most americans want. look, when paul ryan in that foot ang we just saw said that they want to about a the budget and we don't, either he is not listening or purposely evading the truthful we both want a balanced budget. the issue is how do you balance it? democrats believe we should have a solutions based budget that does three things. number one, that it takes a balanced approach to reducing debt. we've got to reduce debt. number two, that is fair to the middle class. their budget is completely unfair to the middle class. number three, that invest in the right priorities. the smart priorities. their budget completely divests. when the times are tough and families are sitting there trying to figure out what cut do we cut going to an expensive restaurant or cut our kids going to college? what this repu
, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job, downright cool. and the fed insists that for reasons of economics as well as humanity, it will continue to do what has not worked. >> and i want to get your take on cyprus and europe, but let me put that aside for a moment. because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been helpful to the economy. so, what is the downside risk? how does this end? >> well, this is the greatest and most perilous experiment in th
exaggerated by looking at year to date, a boon. the boon right now, at a 56 basis point deficit to the treasuries. that's a wide spread. and the last two-day chart of the euro versus the dollar. should it break through 1.28.80, it could challenge the current four-month lows versus the greenback. sue, back to you. >> rick, thank you very much. >>> some new clues about the state of the job market today. the number of americans filing unemployment benefits rising slightly last week to 336,000. a tad below estimates. we've seen a number of job cuts announced recently. so is the labor market running out of steam? listen to what "mad money's" jim cramer said earlier today. >> tens of thousands of people are going to be laid off within the next month. >> whatever little. >> and that's going to show up in the numbers, in that 330,000 employment, that may be the last good one. bernanke is not smoking dope, pot, whatever they call it now. >> well, is he right? joining us now is "the wall street journal's" chief economics correspondent john hillsenrath. good to see you. >> good to be here.
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